Results of regression analysis for FWB Model.

Young adults face many significant challenges to their financial well-being. The rising cost of living and unstable economies have impacted how they consume, manage, and save monthly income to maintain their standard of living. Hence, exploring the financial well-being of young adults in Malaysia is an intriguing and relevant research topic that deserves examination from multiple perspectives. This study aims to investigate how these three factors, namely financial knowledge and locus of control with financial behaviour as a mediator, are correlated with the financial well-being of low-income young adults in Malaysia. A total of 520 young adults from North, Central, South, East zones in Peninsular Malaysia and East Malaysia were randomly chosen using a multi-stage sampling technique as the sample of this study. Data in this study were obtained using a set of questionnaire-based survey through cross-sectional study and then scrutinized using IBM SPSS (Statistical Package of Social Science). This study discovered that financial knowledge, internal and external locus of control, and financial behaviour were significantly correlated with the financial well-being of low-income young adults. The findings also demonstrate that financial behaviour mediates the correlation between financial knowledge, both internal and external locus of control, and financial well-being. This study is one of the very few important studies that explore the link between financial literacy, locus of control, financial behaviour, and financial well-being among low-income young adults. This study also found an interesting and noteworthy fact regarding the impact of the minimum monthly wage policy on highly educated young adults in Malaysia, which is worth discussing and needs to be alerted to the policymakers and leaders of the country. Therefore, the findings of this study can be utilized as a starting point by policymakers, government organizations, and non-governmental organizations to create new initiatives aimed at raising financial well-being among the younger generation.

青年群体在财务福祉领域面临诸多严峻挑战。持续高企的生活成本与动荡不定的宏观经济环境，影响了青年群体通过消费规划、收支管理与月度储蓄来维持生活水准的方式。故此，探究马来西亚青年群体的财务福祉（financial well-being）是一项兼具学术价值与现实意义的研究课题，值得从多视角开展系统性审视。本研究旨在探讨三大因素——金融知识、心理控制点（locus of control），以及作为中介变量的财务行为——与马来西亚低收入青年群体财务福祉之间的相关性。本研究采用多阶段抽样法，从马来半岛北、中、南、东部区域及东马来西亚中随机抽取520名青年作为研究样本。本研究通过横断面研究（cross-sectional study）采用问卷调研方式采集数据，随后借助IBM SPSS（社会科学统计软件包，Statistical Package of Social Science）完成数据的检验与分析。本研究发现，金融知识、内外向心理控制点以及财务行为，均与马来西亚低收入青年群体的财务福祉存在显著相关性。研究结果同时证实，财务行为在金融知识、内外向心理控制点与财务福祉的相关性中发挥中介作用。本研究是为数不多针对低收入青年群体探讨金融素养（financial literacy）、心理控制点、财务行为与财务福祉之间关联的重要研究之一。本研究还发现一项值得关注的重要结论：马来西亚月度最低工资政策对高学历青年群体的影响，该结论具备深入探讨的价值，且需提请该国政策制定者与国家领导层予以重视。故此，本研究结果可作为政策制定者、政府机构与非政府组织制定旨在提升青年群体财务福祉的全新举措的参考起点。